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July 21, 2006
ALT to Buy Two LNG Plants from Kryopak
Applied LNG Technologies USA, LLC
8101 W. 34th Avenue, Amarillo, TX 79121
FOR IMMEDIATE RELEASE Contact: Juanita R. Diaz
Date: 21 July 2006 Telephone: (806) 359-3327 X283
LNG Production - Peru
Irradia, a joint venture company between Applied LNG Technologies,
Inversiones Wineca and Energy Partners is announcing its purchase of two
150, 000 gallons per day (300T/D) (Designed for 600T/D or 750,000Nm3/day
gas) Liquefied Natural Gas (LNG) production
plants.
Demands for fuel alternatives in Latin America are apparent as the Lima,
Peru, based company has already obtained enough interest from the
surrounding area to exhaust the resources of the first of the two
plants. Activities are well on their way to allocating the resources of
the second. Total sales for Irradia in 2008 are projected at $35
million, and estimated to reach $70 million by 2010.
The liquefaction plants will be engineered by KryoPak International with
construction scheduled to begin immediately. LNG production, sales and
delivery are expected within 12 months to date. As a result of this
commission, Salof Refrigeration and Kryopak International have named
Irradia as their exclusive representative and agent for LNG plants in
Perú and Venezuela.
Willy Neustadtl, Irradia President, has long been involved in the
logistics and agro-industrial markets of Venezuela and Perú. Identifying
a natural gas gap in the availability of alternative fuels; in June of
2006, Neustadtl established the Irradia company in both Lima and
Venezuela. He states, "LNG fuel will be used as an alternative for
traditional petroleum products, thus diversifying our fuel supply and
lessening dependency on petroleum based fuel oils. While Perú has
abundant gas resources, few sources have been established that meet the
immediate demand for refined, useable fuels." The incorporation of LNG
as an alternative fuel will positively impact the Latin American economy
by expanding fuel availability to a strained energy market; thus having
a constructive social impact by providing new fuel opportunities to
people of minor resources. Additionally, natural gas fuel aids in the
on-going goal of emission reduction by creating an immediate 80%
reduction in the Latin American capitals.
Irradia has organized their business structure to reflect the proven
success of Texas based Applied LNG Technologies (ALT). Since 1995, ALT
has been the United States leader in LNG production and distribution for
industrial, municipal and transportation applications.
ALT is a subsidiary of Apollo Resources International (AOOR.OB)
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